DAX Intraday: Key resistance at 10960.00

Swissquote Bank Research Team Swissquote Bank Ltd

DAX

Key resistance at 10960.00.

Stay on top of the markets with Swissquote’s News & Analysis

Pivot (invalidation): 10960.00

Our preference
Short positions below 10960.00 with targets at 10825.00 & 10784.00 in extension.

Alternative scenario
Above 10960.00 look for further upside with 11015.00 & 11070.00 as targets.

Comment
As Long as the resistance at 10960.00 is not surpassed, the risk of the break below 10825.00 remains high.

S&P 500

Supported by a rising trend line.

Pivot (invalidation): 2545.00

Our preference
Long positions above 2545.00 with targets at 2636.00 & 2685.00 in extension.

Alternative scenario
Below 2545.00 look for further downside with 2520.00 & 2473.00 as targets.

Comment
The RSI is mixed with a bullish bias.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD weakens to near 1.1900 as traders eye US data

The EUR/USD pair loses ground to around 1.1905, snapping the two-day winning streak during the early European trading hours on Tuesday. Markets might turn cautious ahead of the release of key US economic data, including US employment and inflation reports that were pushed back slightly due to the recently ended four-day government shutdown.

GBP/USD edges lower below 1.3700 on UK political risks, BoE rate cut bets

The GBP/USD pair trades on a weaker note around 1.3685 during the European session on Tuesday. The Pound Sterling edges lower against the US Dollar amid political risk in the United Kingdom and rising expectations of near-term Bank of England rate cuts.

Gold drifts lower as positive risk tone tempers safe-haven demand; downside seems limited

Gold drifts lower during the Asian session on Tuesday and snaps a two-day winning streak, though it lacks strong follow-through selling and shows some resilience below the $5,000 psychological mark amid mixed cues. The outcome of Japan's snap election on Sunday removes political uncertainty, which, along with signs of easing tensions in the Middle East, remains supportive of the upbeat market mood.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Follow the money, what USD/JPY in Tokyo is really telling you

Over the past two Tokyo sessions, this has not been a rate story. Not even close. Interest rate differentials have been spectators, not drivers. What has moved USD/JPY in local hours has been flow and flow alone.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.